AFIX Inc | Application Preview
AFIX Inc. is seeking government grants to support various aspects of its product development, including patent acquisition, prototyping, testing, and compliance processes such as obtaining 510k approval. The funding will also be allocated to manufacturing, packaging, sterilization, and administrative support.
In its first year, AFIX plans to collaborate with six orthopedic surgeon advisors to implement their innovative, sterile packaged external fixation device in leading trauma hospitals nationwide. Their growth strategy involves leveraging relationships with surgeon fellows and residents, alongside establishing a distribution network targeting over 600 trauma centers. AFIX estimates generating approximately 6 million dollars from key hospitals before extending operations across the US, with projected revenues reaching over 25 million dollars by year five.
The company positions its ExoFix technology as a game-changer for surgeons, offering a simpler, more versatile external fixation device designed specifically by surgeons, which enhances operational efficiency and reduces costs. This technological advantage contrasts sharply with established competitors like Johnson & Johnson, Smith & Nephew, and Stryker, all of which utilize outdated systems that are complex, costly, and require bulky inventory.
AFIX's competitive edge lies in its single-use, sterile tray that simplifies the surgical process, reduces costs, and minimizes the need for extensive inventory. The device is intuitive and can be applied by surgeons independently, improving operating room efficiency and patient care. Its design allows for better visibility of fractures during procedures, further enhancing surgical outcomes. Overall, the funding sought by AFIX Inc. would play a crucial role in revolutionizing orthopedic fixation practices.
-
General Information
Business Registration Number: 85-2635389
Location: Broadview Heights, OH, United States
Length of Operation: 14 months
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
-
Funding Usage
Product development, patent, prototyping, testing, regulatory and compliance, 510k approval, manufacturing, surgeon advisory board support, packaging, sterilization, manufacturing, administrative and compliance support
-
Business Plan
1st year-6 Orthopedic Surgeon Advisors will be utilizing our sterile packaged external fixation device in the busiest trauma hospitals across the country. We will grow through their partners, surgeon fellows and residents and have a sales distribution network selling the product across the US in Level I,II,III Trauma Centers. This includes over 600 hospitals. Our key opinion leaders/hospitals will generate approximately 6 million dollars before expanding to the entire US. We expect to do over 25 million dollars in year 5. Value Proposition: The ExoFix technology empowers surgeons with external fixation devices they designed, not a large Orthopaedic Company, which will reduce complexity, increase versatility, and significantly reduce surgical time and cost.
-
Self Identified Competition
Johnson & Johnson Depuy Synthes- Antiquated system that is complex to use, costly and not as versatile. Multiple Trays take up shelf space which is a significant issue in all hospitals Smith & Nephew- Same technology for 20 years, complex, not as versatile and very costly and multiple trays. Not as flexible as our device Stryker- System hasn’t been changed for 20 years, complex to use, not as versatile, multiple trays and costly One sterile, single use tray for every case, reduction in cost, versatile and less inventory making it less complex and easy to use. Designed by surgeons so intuitively developed to address their pain points with the current companies mentioned. Our product can be a rep-less model which is more enticing to OR Staff. Our device will not show on X-rays so they can see the fracture better.The surgeon can apply the device independently without the need for an assistant. Intuitive design will decrease operating time.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
